Vornado inks another $52M closing at 220 Central Park South
Last month the floor below at the ultra-luxury skycraper sold for about $51M
The global pandemic that continues to slam markets hasn’t stopped closings at Vornado Realty Trust’s ultra-luxury 220 Central Park South.
Another eye-popping sale has been completed at the Billionaire’s Row tower, this time for almost $52.3 million, a property record filed last week shows. The offering price on the full-floor unit was $57 million, per a 2019 amended condominium offering plan.
The buyers of the unit are two trusts, whose trustees are David J. Stoll and Walter Edelstein, the filing shows. Stoll, an attorney, did not immediately respond to a request for comment. Walter Edelstein, also an attorney, could not be reached.
The four-bedroom unit encompasses the 62nd floor of the building. The deal for the 5,935-square-foot pad closed March 31, some 11 days after Gov. Andrew Cuomo ordered non-essential workers to stay home as the coronavirus escalated around New York.
The deal pencils out to roughly $8,800 per square foot. An anonymous buyer also recently closed on the floor below, another full-floor unit, for $51.4 million.
Vornado announced in a February earnings call that the developer had sold 91 percent of the building’s units to date — despite “a very soft luxury market.” Many of the contracts were signed before the market went south.
Agents are prohibited from conducting in-person showings while Covid-19 continues to pose a threat, but they are allowed to continue to work from their offices — and show properties virtually — as long as social-distancing practices are followed.
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